GlossaryIntermediate
Layer 1
A base blockchain network that settles transactions and provides its own consensus and security rules.
Layer 1 refers to a base blockchain such as Bitcoin or Ethereum. It maintains its own ledger, validates transactions through its consensus mechanism, and provides the settlement environment for assets and applications on that network.
Different Layer 1 networks make different trade-offs in security, decentralisation, speed, cost, and programmability. Assets and addresses on one network are not automatically interchangeable with those on another.
Examples
- Ethereum is a Layer 1 that supports smart contracts and Layer 2 networks.
- A wallet user must select the intended Layer 1 before sending an asset.